Media Group NEW's First In-House Venture 'New ID' Completes Series A Funding of 13 Billion KRW

[Asia Economy Reporter Jang Hyowon] New ID, a digital platform and media solutions specialist company (CEO Park Jun-kyung), announced on the 23rd that it has completed an additional investment of 7 billion KRW by June, completing a total Series A round of 13 billion KRW.

Established as the first in-house venture of the content media group NEW (Next Entertainment World), New ID, which has been valued at approximately 57 billion KRW (Post Value) in just three years, has concretized its business expansion direction for the second half of the year based on new funds, proprietary technology, and global partnerships through market preemption. In the media industry, where the global service of content by country is a key issue, New ID's core business is attracting attention from two perspectives.

First, New ID is the first Asian company to enter the 'advertising-based content service (FAST/AVOD)' business spreading worldwide, centered on North America. It has signed content channel supply contracts with the top 20 platforms in the industry, including Samsung TV Plus, LG Channel, Amazon Freevee, The Roku Channel, and Paramount Global's Pluto TV, operating 25 live CTV channels and AVOD services, and collaborating with over 30 global ad tech companies. Currently, the FAST/AVOD market is growing over 100% annually, centered on North America, and advertising revenue in the U.S. alone is expected to exceed 24 trillion KRW this year.

Additionally, New ID has filed four development patents for uninterrupted broadcasting by linking live streaming and advertising. Its proprietary Content Management System (CMS), reflecting technical compatibility know-how with over 20 global top platforms, is preparing to open to global platform companies beyond internal use. The AI post-production technology (image quality enhancement, removal of specific audio and images) that automatically removes obstacles to global service of local content is gaining attention not only for post-production of export content but also as a key solution for global OTTs to secure local content.

Kim Min-jun, an investment officer at Korea Investment Partners who led the Series A, said, “Asian content providers and OTT platforms need tech partners to enter the rapidly growing global FAST and AVOD markets. Based on experience in content business and accumulated technology, New ID is expected to grow into Asia’s leading media tech company leading the global OTT market.”

Lee Ji-hoon, an investment officer at IBK Investment & Securities, said, “It was impressive that they are operating new businesses in the media field such as FAST channels and AI post-production solutions, and implementing them based on technology. Especially, the drive and direction of CEO Park Jun-kyung and co-founder Kim Johan are expected to materialize new ideas and meet the unmet needs of OTT platforms, advertisers, viewers, and IP holders.”

Park Jun-kyung, CEO of New ID, stated, “I am grateful and reassured to be able to accelerate the business with leading domestic VCs. We will do our best to continuously grow as a company that extends the lifespan of content, removes export barriers, and supports data-driven production.”

Meanwhile, New ID plans to strengthen technology development and operational organizations in areas such as content streaming, AI media solutions, and utilization of viewing big data, and has launched a large-scale recruitment drive for the second half of the year through its website.